Go Call (GOCA) Message Board

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Microcap & Penny Stocks : Go Call (GOCA)

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To: roulette who wrote (10)	8/17/1998 11:49:00 AM
From: FARRIS	Read Replies (1) of 192

Just spoke with Michael Ruge... 1. My deal with them is on hold as of last night. They are going to try to middle-man a deal with another prepaid provider as they feel they do not have the resources (manpower) to do it themselves. Not necessarily a bad thing, but it begs further questions from a current investor IMO as to how the current prepaid operation works. 2. 20 million authorized by charter 9 million issued and outstanding less than 1 million in the float, 400,000 of which is in private investor "non-friendly" hands The 8 or so million restricted shares are restricted from 1 to 5 years. About 1/3 will become free-trading in about 5 months, then each year more and more will cut lose... 3. These guys are wanting to do private placements of "preferred stock" that converts into common. Two common for one preferred auto-conversion when the share price hits $2. Ten percent in the meantime. They want to issue 800,000 of these. 4. Do not hold your breath on the financials... particularly reporting status with the SEC. I think they would like to get the job done, but simply have a lack of time and manpower and it is low on their priority list. (It would be very high on mine as an investor however.) 5.They do have their number up-to-date as of now and their fiscal year ends June 30. That is about it for now. Once we move forward with our arrangement, I will come back and let you know. For now, I await the on-line casino and the signed agreement with KANGRO. Oh yea, the financing with Madison and Grant is dependant on the agreement with KANGRO and some other little details. The terms are very favorable in my opinion -- if it all works out. Good luck. Eric

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